Post Utme Lasu 2017 Economics Question 13

Practice objective / multiple choice question 13 from the 2017 Post Utme Lasu Economics examination.

Post Utme Lasu 2017 Economics Objective / Multiple Choice
Question 13 POST_UTME_LASU • 2017 • ECONOMICS • objective

A firm has a \cost function given by C = 2L + 3K. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, find the optimal level of labor and capital that will minimize the firm's \costs.

Answer Options

Correct Answer A. L = 50, K = 100
B. L = 100, K = 50
C. L = 200, K = 100
D. L = 100, K = 200
Correct Answer
A
Correct Option:
L = 50, K = 100

About This Question

This is Post Utme Lasu 2017 Economics Question 13. It is one of the objective questions from the 2017 Post Utme Lasu Economics examination.

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